Bankruptcy and optimality in a closed trading mass economy modelled as a non-cooperative game

DOI10.1016/0304-4068(79)90001-6MaRDI QIDQ754746zbMATH OpenOpenAlexFDO

Authors Pradeep Dubey, Martin Shubik

Publication date 1979

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0304-4068(79)90001-6

zbMATH Keywords

game theoretic modelcompetitive equilibrium pointsnoncooperative equilibrium pointsoptimal bankruptcy ruletrade in fiat moneyWalrasian trading economy

Mathematics Subject Classification ID

Applications of game theory (91A80) Other game-theoretic models (91A40) General equilibrium theory (91B50)

Cites work

• scientific article; zbMATH DE number 3547015 (Why is no real title available?)
• A closed economy with exogenous uncertainty, different levels of information, money, futures and spot markets
• Existence of Competitive Equilibria in Markets with a Continuum of Traders
• The optimal bankruptcy rule in a trading economy using fiat money
• Values of Non-Atomic Games

Cited in

(8)

• Noncooperative exchange using money and broker-dealers
• Harsh default penalties lead to Ponzi schemes
• A note on an optimal garnishing rule
• The unique minimal cash flow competitive equilibrium
• A strategic market game with secured lending
• A strategic market game of a finite exchange economy with a mutual bank
• Endogenous debt constraints in collateralized economies with default penalties
• A strategic market game with transactions costs

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